West philadelphia buy and hold investment property.
Investment Info:
Single-family residence buy & hold investment in Philadelphia.
Purchase price: $100,000
Cash invested: $25,000
Philadelphia,Pennsylvania 3 bed 2 bath single family home.
See www.realtypropertyservices.com for pictures and videos.
What made you interested in investing in this type of deal?
There is a strong rental demand in this market and the fundamentals for long term appreciation are there.
How did you find this deal and how did you negotiate it?
Wholesalers and i did a site visit/walkthrough. After determining the rehab budget i made an offer.
How did you finance this deal?
25% of purchase price (25k) through a lender who financed the renovations.AC
How did you add value to the deal?
Renovated and modernized the property.
What was the outcome?
Property was renovated stabilized and loan was transistioned into a tradidtional fixed, increasing cashflow and allowing increasing of equity by the tenant.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
wholesalers